Cable Joints Market to Grow from $16.1 Billion in 2021 to $31.5 Billion by 2031 at 6.9% CAGR

Allied Market Research published an exclusive report, titled, "Cable Joints Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Voltage, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2021-2031".

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A cable joint is a connecting solution designed to connect low, medium, and high-voltage cables in a way that reflects the cable's construction. Several types of joints are available in the market and the best one depends on the cable's size, shape, configuration, voltage rating, structure, insulation type, specific application, and the number of cores to be joined. The waterproof cable joints should provide electrical insulation and mechanical protection, as well as a barrier against water ingress.

The growth of the global cable joints market size is majorly driven by the rise in government initiatives to expand or upgrade transmission & distribution systems paired with the surge in industrialization & urbanization in emerging economies. Further, the rapid development and investments in the renewable energy sector are anticipated to drive the growth of the cable joints market. However, the high failure rate of medium voltage cable accessories acts as a prime restraint of the cable joints market. On the contrary, the increase in investments in the electrification of remote & rural areas is anticipated to provide lucrative opportunities for the cable joints industry during the forecast period.

The cable joints market report encompasses driving factors of the market coupled with prime obstacles and restraining factors that hamper the market growth. The report helps existing manufacturers and entry-level companies devise strategies to battle challenges and leverage lucrative opportunities to gain a foothold in the global market.

Key Market Players:

3M International, Nexans S.A., TE Connectivity Ltd., NKT A/S., Cable Jointer Solutions, Yamuna Power & Infrastructure Ltd., Fujikura, General Cable Technologies Corporation (Prysmian Group), ABB Ltd, and Connect Cable Accessories Co., Ltd.

Segmentation Analysis:

The cable joints market is segmented into Type, Voltage, Industry Vertical, and Region.

The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.

According to cable joints market analysis, the high voltage segment was the highest contributor to the cable joints market share in 2021. The industrial and energy & power segments collectively accounted for around 51.9% market share in 2021. The surge in the adoption of renewable energy and power cable joints solutions has led to the growth of the industrial and energy & power segments; thereby, enhancing the cable joints market growth.

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The research report mainly focuses on the growth drivers and investment opportunities in the industry to assist companies in formulating strategies for taking a lead in the cable joints market. Additionally, the report also highlights the market restraints and challenges that the sector might face in the coming period. Moreover, by using scientific tools like Porter's five forces, the competitive scenario of the domain is also presented in this study which helps the companies understand the dynamic nature of the market.

The Report will help the Readers:

- Figure out the market dynamics altogether.

- Inspect and scrutinize the competitive scenario and the future cable joints market landscape with the help of different strictures including Porter's five forces.

- Understand the impact of different government regulations throughout the global health crisis and evaluate the cable joints market condition in the tough time.

- Consider the portfolios of the protruding players functional in the market in consort with the thorough study of their products/services.

- Have a compact idea of the highest revenue generating segment.

Research Methodology:

Along with the growth drivers and investment opportunities in the sector, the report also highlights the latest trends and developments in the industry. Also, the financial performance of the major companies in the industry is studied as part of the report. To substantiate the information given in the report, interviews with major stakeholders in the industry are also provided, which helps businesses get a true picture of the sector.

The research operandi of the global cable joints market includes significant primary as well as secondary research. When the primary methodology encompasses widespread discussion with a plethora of valued participants, the secondary research involves a substantial amount of product/service descriptions. Furthermore, several government sites, industry bulletins, and press releases have also been properly examined to bring forth high-value industry insights.

Key Findings Of The Study:

In 2021, the outdoor segment accounted for maximum revenue and is projected to grow at a notable CAGR of 6.8% during the forecast period.

The industrial and energy & power segments together accounted for around 51.9% of the power cable market share in 2021.

The high voltage segment is projected to grow at a CAGR of 6.2% during the forecast period.

Asia-Pacific contributed the major share in the power cable market, accounting for more than 35.8% share in 2021

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